Voyager Digital Selling Large Amounts of Cryptocurrency on Coinbase
Voyager Digital, a bankrupt cryptocurrency lender, has been offloading a significant amount of cryptocurrency on cryptocurrency exchange Coinbase. They have sold over 1.4 trillion Shiba Inu ($SHIB), 781 BTC, and 9,570 ETH on the platform. They have also sold 49 different tokens for around $63 million, with the majority being in BTC, ETH, and Shiba Inu. Voyager has received 84.5 million USDC from Coinbase and moved them to Circle. Despite these sales, Voyager still has $11.3 million in assets, including 52.4 million VGX and 55 Bitcoin.
Key Points:
- Voyager Digital has been selling a large amount of cryptocurrency on Coinbase.
- They have sold over 1.4 trillion Shiba Inu, 781 BTC, and 9,570 ETH on the platform.
- They have sold a total of 49 different tokens for around $63 million.
- Voyager has received 84.5 million USDC from Coinbase and moved them to Circle.
- Despite the sales, Voyager still has $11.3 million in assets, including 52.4 million VGX and 55 Bitcoin.
Despite their recent sales, Voyager Digital still holds a substantial amount of assets. It is unclear why they have been offloading such a large amount of cryptocurrency on Coinbase. Some speculate that they may be cashing out to compensate customers as they wind down operations. The sale of Shiba Inu tokens and other tokens on Coinbase is part of a larger trend of large-scale withdrawals from centralized cryptocurrency exchanges. This withdrawal of supply could have implications for the market.
Hot Take: Voyager Digital’s significant sales on Coinbase raise questions about their financial situation and their plans for compensating customers. The large-scale withdrawals of Shiba Inu tokens and other cryptocurrencies from exchanges may have an impact on the market. It will be interesting to see how these developments unfold in the coming weeks.
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